NDLEA Auctions Drug Kingpins’ Properties for N6.15 Billion

NDLEA Auctions Drug Kingpins’ Properties for N6.15 Billion
The bid-opening ceremony was witnessed by representatives of the ICPC
The entire process was conducted in full compliance with the Proceeds of Crime (Recovery and Management) Act, 2022

The National Drug Law Enforcement Agency (NDLEA) has successfully auctioned four properties forfeited by drug kingpins to the federal government, generating a total of N6.148,964,000.00.

Eko Hot Blog reports that the assets were sold through a competitive bidding process involving eight forfeited properties across the country. While four properties met or exceeded their reserve prices and were successfully sold, bids for the remaining four failed to reach the reserved amounts.

Announcing the results at the NDLEA Headquarters in Abuja, Tamarantare Ali-Bozi, Head of the Asset Recovery and Management Unit of the Federal Ministry of Justice, declared the winners of the successful bids.

Top Sale

Tope Ojo and Tunde Olonishakin estate firm emerged as the winner of a six-floor hotel located in Victoria Island, Lagos, with a bid of N5.9 billion.

Other Successful Bids:

– FSS Limited won a property at Lekki Phase 1, Lagos, for N219.5 million.

– A-BNB Global Innovations Limited secured a block of flats in Ejigbo, Lagos, for N104 million.

– Fazeen Global Link Limited won a property in Akure, Ondo State, for N29.36 million.

The bid-opening ceremony was witnessed by representatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), civil society organisations, auctioneers, and bidders.

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In his remarks, NDLEA Chairman/Chief Executive Officer, Brig-Gen. Mohamed Marwa (rtd), represented by the agency’s Secretary, Shadrach Haruna, emphasised that the public auction goes beyond revenue generation.

“It reinforces public confidence in the rule of law, demonstrates accountability in the management of recovered assets, and sends a strong message that crime does not pay,” Marwa stated.

He reaffirmed the agency’s commitment to transparency, due process, and the continued dismantling of drug trafficking networks while recovering and lawfully disposing of proceeds of crime in the public interest.

The entire process was conducted in full compliance with the Proceeds of Crime (Recovery and Management) Act, 2022, and other relevant laws, with professional valuation and rigorous screening of auctioneers.